Shulman Advisory

PowerX to List on TSE Growth Market as Domestic BESS Market Expands

Publication date: Dec 21, 2025  PowerX to List on TSE Growth Market as Domestic BESS Market Expands PowerX has received approval from the Tokyo Stock Exchange and will list on the TSE Growth Market on December 19. Founded in March 2021, the company manufactures and sells large-scale battery energy storage systems (BESS) for grid-scale and …

Japan’s BESS Moment: Strategic Opportunity or Speculative Trap?

Publication date: Dec 17, 2025  Japan’s BESS Moment: Strategic Opportunity or Speculative Trap? Why international developers need more than optimism to navigate Japan’s battery storage gold rush. — Professor Hiroshi Takahashi of Hosei University recently made a compelling case in Nikkei GX for Japan to formally integrate battery energy storage system (BESS) capacity targets into …

Tightening Balancing Market Design Could Reshape BESS Strategies

Publication date: Dec 15, 2025  Tightening Balancing Market Design Could Reshape BESS Strategies At a recent expert meeting held in late October 2025, METI proposed two changes  for Primary Reserve (FCR) and Secondary Reserve I (S-FRR) in the balancing market: 1. Reducing the procurement volumes by 50–80%starting from FY2026. 2. Lowering the price caps by …

New 150MW BESS Station to Be Built Near Site of Fukushima Nuclear Plant

Publication date: June 20, 2025 New 150MW BESS Station to Be Built Near Site of Fukushima Nuclear Plant New 150MW BESS Station to Be Built Near Site of Fukushima Nuclear Plant One of the largest Battery Energy Storage System (BESS) stations in Japan is to be built in Naraha Town, Fukushima Prefecture, south of TEPCO’s …

Second Round of LTDA Sees Rising Interest From BESS Operators

Publication date: May 20, 2025 Second Round of LTDA Sees Rising Interest From BESS Operators The Organization for Cross Regional Coordination of Transmission Operators (OCCTO) announced the results of the FY2024’s second round of the Long-term Decarbonization Auction (LTDA). The eligible power sources this time were largely divided into “decarbonized power sources” and “LNG-fired thermal …

Weathering the Storm: Weather Forecasting and Battery Energy Storage Systems in Japan’s Changing Climate

Publication date: April 28, 2025 Weathering the Storm: Weather Forecasting and Battery Energy Storage Systems in Japan’s Changing Climate Weathering the Storm: Weather Forecasting and Battery Energy Storage Systems in Japan’s Changing Climate Shulman Advisory is delighted to present the following article in collaboration with Atmospheric G2, on how weather, growing gradually more extreme under …

JERA, PowerX JV in Deal to Manage BESS Capacity

Publication date: April 11, 2025 JERA, PowerX JV in Deal to Manage BESS Capacity JERA Cross, a wholly owned subsidiary of JERA (a joint venture owned by TEPCO Fuel & Power and Chubu EPCo) and PowerX, announced that it had signed a basic agreement for a comprehensive collaboration to jointly promote #BESS (Battery Energy Storage …